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SA component suppliers 'making real progress', says benchmarking study

By: Irma Venter     24th April 2018 Despite certain areas of weakness, South African component suppliers have advanced their competitiveness and productivity in recent years, shows the South African Automotive Supplier Industry Benchmarking Report 2018. “It is clear that South African suppliers are making real progress, and that... 

 SA component suppliers 'making real progress', says benchmarking study

South African Airways says it needs capital injection 'now'

By: Reuters     24th April 2018 South African Airways (SAA) needs a new capital injection "now" to stay afloat and is in discussions with banks and the National Treasury for "an open credit line", its chief executive said on Tuesday. State-owned SAA, which has not generated a profit since 2011, is regularly cited by ratings... 

South African Airways says it needs capital injection 'now'

Government unlocks billions more for free higher education

By: News24Wire      24th April 2018 The government has made billions available for tertiary education, but students have to fulfil strict criteria to get the money. Satisfactory academic performance will be among the expectations university students will have to meet in order to qualify for government's funding scheme, said Higher... 

Government unlocks billions more for free higher education
Higher Education & Training Minister Naledi Pandor

Eskom’s Masango cleared of charges

By: Marleny Arnoldi     24th April 2018 Suspended Eskom group capital executive Abram Masango has been found innocent of the charges of misconduct levelled against him during a disciplinary hearing held over four days in March and April.  

Eskom’s Masango cleared of charges
Photo by Dylan Slater
Eskom interim group CE Phakamani Hadebe

Cartrack achieves robust subscriber, revenue growth for FY17

By: Marleny Arnoldi     24th April 2018 JSE-listed telematics service provider Cartrack recorded robust subscriber and revenue growth in the financial year ended February 28.  

Cartrack achieves robust subscriber, revenue growth for FY17
Cartrack CEO Zak Calisto

Aton’s wooing of M&R shareholders continues

By: Marleny Arnoldi     24th April 2018 As it continues to seek support from Murray & Roberts (M&R) shareholders for its R15 a share buyout offer, German investment company Aton on Tuesday released salient information related to its buyout offer to address “stakeholder concerns”.  

City of Joburg’s draft Inclusionary Housing Policy unworkable – Sapoa

By: Nadine James     24th April 2018 The City of Johannesburg’s draft Inclusionary Housing Policy, which is currently out for public comment, is not a workable solution and may, in its current form, deter the private sector from developing residential units, says the South African Property Owners’ Association (Sapoa). Sapoa CEO Neil... 

Commuter bus firm Hosken lists on the JSE

By: Nadine James     24th April 2018 Commuter transport company Hosken Passenger Logistics and Rail, which operates the Golden Arrow bus service, on Tuesday became the second company this year to list on the JSE’s main board.  Welcoming Hosken to the exchange, JSE primary markets head Prejelin Naggan said that the listing should... 

Agri SA spent R331m on transformation in 2016/17

By: Anine Kilian     24th April 2018 Members of agricultural industry association Agri SA spent R331-million on transformation during the 2016/17 financial year and reached an estimated 108 307 beneficiaries, including 55 000 farmers. This is according to the 2018 Agri SA transformation report, which was released on Tuesday, and is... 

Minigrid research, development fund launched for sub-Saharan Africa

By: Anine Kilian     24th April 2018 Investment firm CrossBoundary, in partnership with The Rockefeller Foundation, on Tuesday launched the Mini-Grid Innovation Lab, in Nairobi, Kenya. The lab is the first research and development fund for sub-Saharan Africa that focuses exclusively on testing business model innovations in the... 

Former Statistician-General Pali Lehohla honoured by University of KZN

By: African News Agency      24th April 2018 The University of KwaZulu-Natal (UKZN) has awarded Dr Pali Lehohla, former Statistician General and head of Statistics South Africa, with an honorary doctorate, the university said on Tuesday . The university made the award on Monday night in recognition of his unprecedented role in... 

Improved economic environment bodes well for Africa infrastructure development

By: African News Agency      24th April 2018 The economic environment for private equity investments in Africa has improved from a few years ago during a global economic downturn, and this bodes well for infrastructure development on the continent, industry experts said on Tuesday. Romain Py, investment director and head of transactions at... 

Rand recovers as traders see dip as chance to buy cheap

By: Reuters     24th April 2018 South Africa's rand on Tuesday recovered some of its losses from a rout in the previous session as traders bought the dip and the dollar rally marched on, causing the currency to break through key levels. At 0630 GMT the rand was 0.45 percent firmer at 12.2950 per dollar compared to an overnight... 

Cosatu won't join general strike on Wednesday, supports minimum wage

By: African News Agency      24th April 2018 The Congress of South African Trade Unions (Cosatu) on Tuesday distanced itself from a planned national strike against a proposed minimum wage and amendments to labour laws. Cosatu's rival, the South African Federation of Trade Unions (Saftu) said on Monday it would embark on a general strike on... 

 Cosatu won't join general strike on Wednesday, supports minimum wage

Ramaphosa arrives in Luanda ahead of the SADC Double Troika Summit

By: African News Agency      24th April 2018 South Africa President Cyril Ramaphosa arrived in Luanda, Angola, on Tuesday morning for the Extraordinary Summit of the Southern African Development Community (SADC) Double Troika which will consider the political and security environment in the SADC region, particularly the kingdom of Lesotho... 

 Ramaphosa arrives in Luanda ahead of the SADC Double Troika Summit
President Cyril Ramaphosa

Hyprop FD resigns

By: Anine Kilian     23rd April 2018 Laurence Cohen has resigned as JSE-listed Hyprop’s FD, effective August 1, to pursue personal interests. The appointment of a new FD will be announced in due course. 

Two South African women receive major international environmental award

By: African News Agency      23rd April 2018 Two South African women have been awarded a prestigious international environmental award for their work in winning a crucial court case against plans by government to proceed with a nuclear build programme. Earthlife Africa-Johannesburg’s (ELA-JHB) Makoma Lekalakala and Liziwe McDaid from the... 

India would file dispute with WTO if US rejects exemption on tariffs – sources

By: Reuters     23rd April 2018 India would lodge a trade dispute against the United States at the World Trade Organisation (WTO) if Washington does not grant it exemptions from higher tariffs on steel and aluminium, three government officials involved in trade talks told Reuters. India recently requested exemptions, arguing... 

Egypt aims for $10bn foreign investment in oil, gas in 2018/19

By: Reuters     23rd April 2018 Egypt aims for foreign investment in the oil and gas sector to reach about $10-billion in the 2018/19 fiscal year that begins in July, Petroleum Minister Tarek El Molla said on Sunday. Molla said he expected foreign investments to total the same amount for the current fiscal year, marking a 25%... 

Agreement opens way for R1.8bn oil services hub at Saldanha port

By: Terence Creamer     23rd April 2018 A private port terminal operator has been selected to build and operate South Africa’s first offshore supply base (OSSB) at the Port of Saldanha, in the Western Cape. The facility, which will involve investments of R1.8-billion over the coming five years, will provide services to offshore oil and... 

Agreement opens way for R1.8bn oil services hub at Saldanha port
Port of Saldanha

Rental income growth pressure, higher finance charges dent Octodec’s H1 results

By: Anine Kilian     23rd April 2018 Pressure on rental income growth, the lag effect of the let-up period at recent developments and higher finance charges, negatively impacted on JSE-listed real estate investment trust Octodec’s results for the six months ended February 28. “The political and economic uncertainty experienced... 

Semiconductor revenue buoyed by industrial, automotive, IoT – Gartner

By: Schalk Burger     23rd April 2018 Revenue generated by the global semiconductor market grew by 21.6% to $420.4-billion in 2017, driven by strong growth in the memory market. Suppliers for the top 25 semiconductor vendors experienced significant growth as two key markets – industrial and automotive – continued to achieve... 

South African air traffic controller elected VP of global ATC representative body

By: Rebecca Campbell     23rd April 2018 Air Traffic and Navigation Services, the State-owned company that is responsible for South Africa’s air traffic management, announced on Sunday that its Area Radar Controller at OR Tambo International Airport (Johannesburg), Peter van Rooyen, had been elected Executive VP of the International... 

SAB, AB InBev on track with five-year public interest commitment investments

By: Marleny Arnoldi     23rd April 2018 South African Breweries (SAB), together with its parent company Anheuser-Busch InBev (AB InBev), has spent R209-million on Public Interest Commitments (PICs) in 2017, with investments in agriculture, enterprise development and societal benefits programmes in South Africa. With the merger of SAB... 

SAB, AB InBev on track with five-year public interest commitment investments

Tower Property’s refurbished, renamed Cape Quarter Plaza set to launch end-April

By: Simone Liedtke     23rd April 2018 The refurbishment of the Cape Quarter Plaza, which will be renamed the Old Cape Quarter upon completion, will be launched by Tower Property Fund’s subsidiary Cape Quarter company at the end of April. The Cape Quarter precinct is situated in De Waterkant, in Cape Town, and is a highly desirable... 

Bursary ‘deal breaker’ removed as precondition for gaining YES empowerment credit

By: Terence Creamer     23rd April 2018 The Department of Trade and Industry (DTI) has agreed to remove an onerous bursary target previously set as a precondition for any firm seeking to receive empowerment credit for their participation in the newly launched Youth Employment Service (YES) initiative. In an unusual step, the department... 

Bursary ‘deal breaker’ removed as precondition for gaining YES empowerment credit
Photo by Dylan Slater
President Cyril Ramaphosa, centre, with Gauteng Premier David Makhura and Busa president Jabu Mabuza at the launch of YES in March

South African pork industry could lose R1bn due to listeriosis outbreak – FNB economist

By: African News Agency      23rd April 2018 South Africa's pork industry and its value chain could suffer losses of up to R1-billion as the price of the meat continues to decline in a fallout from the recent outbreak of listeriosis, an FNB economist said on Monday. A variety of ready-to-eat processed meats, mainly made from pork, have been... 

Corobrik embarks on multibillion-rand investment

By: African News Agency      23rd April 2018 South African brickmaker Corobrik announced on Monday it has embarked on a multi-billion rand investment roll-out to grow its business and develop new markets over the next five to six years. Corobrik CE Dirk Meyer said that the lion’s share of the initial R1-billion allocated during 2017/18... 

Pinsent Masons appoints Sibanda as Jhb office head

By: Simone Liedtke     23rd April 2018 International law firm Pinsent Masons has appointed George Sibanda as head of the firm's Johannesburg office. Sibanda, who joined the firm when it launched its presence in Africa last year, is a highly skilled corporate specialist and has worked on numerous capital raisings, including on the... 

Pinsent Masons appoints Sibanda as Jhb office head
Newly-appointed Pinsent Mason Johannesburg office head George Sibanda

Porsche’s Toby Venter to add Lamborghini to his stable

By: Irma Venter     23rd April 2018 Toby Venter’s LSM Distributors will, in May, expand its South African portfolio with the addition of the Lamborghini brand. LSM currently distributes sports car brand Porsche and super-luxury marque Bentley in South Africa. 

Porsche’s Toby Venter to add Lamborghini to his stable
The Lamborghini Urus

Vodacom Tanzania bets on data and mobile money to stay on top

By: Reuters     23rd April 2018 Vodacom Tanzania is focusing on growing its data business, mobile payments system and cloud services to stay on top of the East African nation's competitive telecoms market, the head of the company said on Friday. Investment in these areas will ensure the company retains first mover advantage,... 

DTI invites public to comment on proposed amendments to BBBEE codes

By: Marleny Arnoldi     20th April 2018 The Department of Trade and Industry (DTI) is inviting the public to participate in a public commentary process on a proposed amendment to the Broad-Based Black Economic Empowerment (BBBEE) Codes of Good Practice on or before May 29.  

Molewa gazettes financial provisioning regulation amendments

By: Marleny Arnoldi     20th April 2018 Environmental Affairs Minister Dr Edna Molewa on Friday gazetted, for implementation, an amendment to the Financial Provisioning Regulations (FPR) for prospecting, exploration, mining or production operations.  

Molewa gazettes financial provisioning regulation amendments
Photo by Creamer Media
Environmental Affairs Minister Dr Edna Molewa

Call made for ‘broad coalition’ to reverse South Africa’s premature deindustrialisation

By: Terence Creamer     20th April 2018 A new no-holds-barred study of South Africa’s economic transformation over the past two decades concludes that the country has not only deindustrialised prematurely, but has also failed to materially transform its economic structure to one that encourages inclusive growth and development. Titled... 

Call made for ‘broad coalition’ to reverse South Africa’s premature deindustrialisation

Lithium-ion industry to take centre stage in next five years

By: Simone Liedtke     20th April 2018 At least 12 lithium and six cobalt transactions have been closed between downstream manufacturers and mining companies since 2016, signalling a changing trend in procurement strategy. This, commodity research consultancy Roskill said in a statement on Friday, shows that the lithium-ion (Li-ion)... 

Minimum wage Bill now with Labour Dept

By: Thabi Madiba     20th April 2018 The National Minimum Wage Bill is now with the Department of Labour to be redrafted with public input agreed to by the Portfolio Committee on Labour. The committee’s acting chairperson Sharome van Schalkwyk said that the department will now take time to rework the Bill for submission again to the... 

Minimum wage Bill now with Labour Dept

Upgraded Sansa Space Weather Warning Centre rededicated

By: Rebecca Campbell     20th April 2018 The South African National Space Agency’s (Sansa’s) Space Weather Regional Warning Centre, at Hermanus in the Western Cape, was officially rededicated on Thursday by Science and Technology Minister Mmamoloko Kubayi-Ngubane following its recent upgrade. This is the only Space Weather Regional... 

Upgraded Sansa Space Weather Warning Centre rededicated
Photo by Sansa
Minister Mmamoloko Kubayi-Ngubane and Sansa Space Science MD Dr Lee-Anne McKinnell in the centre, right and left respectively, holding the rededication plaque. Sansas CEO Dr Val Munsami is at the extreme left. The other staff in the photo are unidentified

TCTA Vresap commercial paper programme increased to R500m

By: Simone Liedtke     20th April 2018 The Trans-Caledon Tunnel Authority (TCTA) has increased the commercial paper programme for the Vaal River Eastern Subsystem Augmentation Project (Vresap) to R500-million. Vresap comprises a 120 km pipeline from the Vaal dam to the Knoppiesfontein diversion structure near Secunda to augment the... 

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